Intuit to Cut 3,000 Jobs Amidst AI Shift

The move is part of the company's effort to simplify its corporate structure and direct resources towards artificial intelligence initiatives.

Enterprise software giant Intuit is eliminating 17% of its staff, or about 3,000 people, as it seeks to divert resources towards baking in AI into its products. The layoffs come as the company looks to reduce complexity and refocus its efforts on AI efforts, according to an internal memo sent to employees.

The company, which makes accounting, tax and personal finance software like TurboTax, QuickBooks, and Credit Karma, had 18,200 employees worldwide as of July 2025, according to its annual report.

Intuit's decision to cut jobs comes during a challenging year for the tech workforce, with the industry having already cut more than 100,000 jobs this year, per Statista. The tech industry's shift towards AI has led to widespread layoffs, with companies like Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle cutting thousands of employees each.

However, despite the layoffs, these companies have reported strong revenues and profits, citing the apparent strong demand for AI products, services, or the infrastructure to power AI. Intuit, however, hasn't been perceived as a beneficiary of the AI boom, with its shares consistently underperforming the broader S&P 500 over the past 12 months.

Intuit reported revenue of $4.65 billion in its fiscal second quarter ended January, a 17% increase, and net profit of $693 million, a 48% improvement compared to a year earlier. The company expects revenue to increase by about 10% in the third quarter.

The layoffs have sparked concerns about the impact on the company's employees and the wider tech industry. As the industry continues to shift towards AI, it remains to be seen how companies will adapt and what the future holds for the tech workforce.

Intuit's decision to cut 3,000 jobs is a significant move in the company's effort to refocus on AI initiatives.

The tech industry's shift towards AI has led to widespread layoffs, with companies like Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle cutting thousands of employees each.

• The layoffs come during a challenging year for the tech workforce, with the industry having already cut more than 100,000 jobs this year, per Statista.

• Intuit's shares have consistently underperformed the broader S&P 500 over the past 12 months, sparking concerns about the company's performance in the AI-driven market.